BotNet News

Your source for Online Security News

The world is more digitally transformed than ever before, and criminals take advantage of that fact to commit a range of cybercrimes such as phishing, ransomware and data breaches. This has a major economic impact on companies, governments and individuals worldwide, and it’s predicted to grow exponentially.

On a large scale, cyberattacks can cost businesses billions in extraneous expenditures on an annual basis — dwarfing GDPs for countries around the globe. They can also damage brands, reputations and customer trust. And on a personal level, cyberattacks can cause victims a great deal of stress, anger and anxiety. In the most severe cases, they can even trigger Post Traumatic Stress Disorder (PTSD).

In addition to the financial costs, attacks can impose other types of direct costs on companies, such as hiring lawyers to comply with laws and regulations on cybersecurity, or paying for repairing and replacing computer systems. They can also cost a company its reputation if hackers expose information that the company would rather remain private, such as in the case of the Ashley Madison hack.

While law enforcement is scrambling to catch up with the problem, passing new laws and pushing police officers to become more technologically savvy, it’s still an ongoing challenge. Cybercrime knows no borders, and the technology involved is constantly changing. It’s a field that requires an expert understanding of both the tech and the people who carry out the crimes in order to tackle them effectively.